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of avoiding the fiscal cliff. he'll meet with harry reid, mitch mcconnell, john boehner and nancy pelosi at quarter after 10:00 eastern time. mcconnell says republicans won't raise tax rates. the white house says the president won't sign an extension of tax cuts for top earners. chinese officials including the country's vice minister are sounding alarm bells with external risks to growth. they hope the uts will come to an agreement on tax issues or warns the country could face a slide into deep recession. eunice yoom is taking a closer look at the relationship between the two economic super powers and how they're likely to proceed. >> she's sitting down to her regular taste of americana. she and her co-workers dine out at their favorite fast food joint from the west twice a week, exactly the kind of middle income chinese american companies hope will drive their future growth. >> translator: we're used to eating rice, she says. it's convenient and nice to have fast food once in a while and have a change. american companies are hoping gnaw leadership will make it easier to sell to chinese
with both speaker boehner and president obama coming out talkital talking about the fiscal cliff. this week we'll see a round of negotiations capped off by a meeting at the white house between congressional leaders and executive branch coming up on friday. where are they going to end up? there are a lot of solutions kicking around town. the final deal is probably going to end up looking like at least one of these different proposals. let me walk you through four of them here so you get a sense of where we might be headed starting with the simpson bowles plan. they would cap the mortgage industry deduction at $400,000. they would also tax capital gains and dividends as ordinary income and they would have the employer sponsored health care exclusion phased out. that would be a big tax increase there. another plan that's floating around out there, you would see mortgage interest deduction limited to $25,000 of interest. capital gains and dividends here also taxed as ordinary income and the state and local tax deduction would be repealed. the gang of six plan is another one that's kicking aroun
hubbard, what boehner said, and i take from this collection some optimism in 20 # 13 the way it might play out is whether we go over or don't go over the fiscal cliff, you know, there's a lot to happen in the next three months, that we get to some space where if they did a trillion dollars of cuts and reforms to entitlements, a frl on discretionary, a trillion in new revenue, a trillion in saved interest only because the budget doesn't understand net present value, but that's okay, but if you did that, there's a grand bargain in a way that would be, i think, a pretty good accomplishment for both parties. i think that the principle thing in that is is can you gent a significant chunk of republicans in the house to support anything that has a trillion dollars of revenue in it. >> you think they reach a bargain, move quickly over the cliff. what happens to get to the bargain? >> yeah, sorry, i thought that's what you were asking. >> yeah. >> i'm pessimistic they will be able to sort out that bargain in the next two months so i'm afraid there's -- i think a serious danger, they go over the fis
in the senate. john boehner is serious about doing something. it will not work if the president does not lead. the president has to set the course. you saw that in the legislation i was part of. the big question will be whether this president stepped up and leads. >> on the one hand, you use the word opportunity. you see that ceos are saying they are investing in hiring. there are remarkably more worried in europe and some of these other problems we're talking about. >> look at this. this is a more imminent. it tells me there is an opportunity. the primary barrier to getting a grand bargain has been an opposition to any revenues in the deal. the reason why there are not specific papers you can read and see what was the dl is precisely because thing started showing up and bob woodward's book. each side feels they did not want to write down i read you this and you offer me this. it was totally understood. people have been doing deals with the congress and the executive for 225 years. few other people have figured out how to do it. i would not pick the president diminishing his value. that does
years later, what moment are we in as boehner enters? >> this is a magic moment, i really do. it is a moment when our generation has a chance to do something about this problem that we created. it is our generation that got us into this mess, and we ought to get ourselves out. we got a good chance. you got a second-term democrat president who has come out and said he is willing to put entitlements on the table. big deal. you've got a speaker, a republican speaker, who really gets at, who really understands the depths of the problems we face, and he has come out and said we are going to put revenues on the table. big move. he got at least half the members of the senate already saying they will support a balanced plan, which makes a lot of sense. we have got the business community lined up firmly against -- for doing something smart, and i guess most importantly, we got this fiscal cliff where if we go over it, we are going to face the most predictable economic crisis in history. fortunately for all of us, it is also the most of voidable. this is the magic moment to get somethi
think they've already agreed to that. you heard john boehner say that already. we've had voteses in the senate where we've gotten rid of tax credits. i think that's a given. and i think that the vast majority of measures agree with that. the question is how do you do that and how do you allow taxes to rise at the same time you fix the real problem and that's uncontrolled entitlement spending and a government that has grown massively. >> i think if the house stands for anything, it's cut government spending as tom coburn said and i think we'll have to do more of it. we heard the mandate in 2010 where it was a clear mandate cut spending and we did, we cut $900 billion in spending that he can't like painful tos us. >> we'll continue our call to rise bol politics and make a deal. oufr guests this morning include mike jackson and also david zaslav. and the head of maris group. and douglas holtz-eakin. >> let's talk about eurozone finance ministers meeting to discuss whether to release a new tranche of fund to go greece. the leaders are not expected it to okay the funding despite greec
week. host: "the baltimore sun" has a story, "boehner ways next moves." this is from "the wall street journal." "post office hint of gop path." host: "she fit a profile." so, more on leadership, which both sides will be voting for this week when they return to washington on who will be their leaders. so, we will continue to watch that story for u.s. well. part of the mix to avoid the fiscal cliff is these jobless benefits. that is the headline in the politics and policy section of "the washington post." "over 2 million americans could lose their jobless benefits before the end of the year." host: susan, michigan, what do you think? should we cut medicare and social security? caller: absolutely not. absolutely not. host: why not? caller: i am a woman who has finally reached the age of social security. all the years the work, this money was taken out of my paycheck. i was told from a very young age that when i reached a fine age of the period where you retire and you can get social security, that all the money that i paid in would be refunded to me. this money is not to be touched, not
it off track when there were in fact very close. i think boehner has been very clear. i think revenues are on the table. they are at the moment drawing a line on tax rates, but we will see where that goes. the last time, you are right, didn't work and we were not facing quite the same set of circumstances we are facing today so i'm cautiously optimistic although i will offer to say lastly that people sometimes say okay, it looks like simpson-bowles, everything in between zero and $4 trillion we could end up with all kinds of outcomes that may be less than i would like and maybe less than all of you would like but at least something. i'm hoping it is more over here but i don't know. >> and steve, so we are gathered here to talk about u.s. global competitiveness. how important is resolving these issues to the american position on the global economy? >> first of all i think it's important not just our position in the global comment about our position in the world. admiral mullen who was the previous chairman of the joint chiefs of staff said our greatest national security threat was our f
. the caucus urges you to join speaker boehner today in the rayburn room at 11:00 a.m. as he honors dr. james billington and his exemplary quarter century of leadership at the library of congress. the speaker pro tempore: for what purpose does the gentleman from new jersey rise? the gentleman is recognized for one minute. >> madam speaker, i rise to congratulate mr. wade martin of montgomery township, new jersey, for being awarded the 2012 land trust alliances prestigious national conservation service award for his significant contributions to the advancement of land conservation. mr. lance: using his position as financial advisor, mr. martin is educating his clients to the benefits of land preservation. his provided land trust and owners across new jersey for the benefit of land conservation. wade martin has taken his innovative land model nationwide to other financial advisors and their clients explore various options in preserving their land and their families' legacies, increasing the pace of land conservation. i ask all of my colleagues to join me in honoring wade martin as one of the na
Search Results 0 to 8 of about 9

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